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Demand for multi-year catastrophe insurance contracts : experimental evidence for mitigating the insurance gap
Dudek, Thomas; Ulm, Eric R.; Noy, Ilan - 2021
People often fail to insure against catastrophes, even when insurance is subsidized. Even when insuring homes, many homeowners still underinsure the full value of their assets. Some researchers have suggested using long-term insurance contracts to reduce these insurance gaps. We examine...
Persistent link: https://www.econbiz.de/10012694052
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Climate treaties and approaching catastrophes
Barrett, Scott - 2012 - 31 July 2011, Revised 24 July 2012, Second Revision 26 October 2012
If the threshold that triggers climate catastrophe is known with certainty, and the benefits of avoiding catastrophe are high relative to the costs, treaties can easily coordinate countries' behavior so as to avoid the threshold. Where the net benefits of avoiding catastrophe are lower, treaties...
Persistent link: https://www.econbiz.de/10009684058
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Fifty years of U.S. natural disaster insurance policy
Marcoux, Kendra; Wagner, Katherine R. H. - 2023
of natural disaster insurance in adapting to climate change. This chapter reviews current challenges in both public and … private natural disaster insurance markets in the United States and how the nature of these challenges has changed over the … complicate both the supply of and demand for natural disaster insurance, with spillovers to related markets such as real estate …
Persistent link: https://www.econbiz.de/10014281392
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Measuring the impact of insurance on urban recovery with light : the 2010-2011 New Zealand earthquakes
Cuong Nhu Nguyen; Noy, Ilan - 2018
We measure the longer-term effect of a major earthquake on the local economy, using night-time light intensity measured from space, and investigate whether insurance claim payments for damaged residential property affected the local recovery process. We focus on the destructive Canterbury...
Persistent link: https://www.econbiz.de/10011846154
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Social inequalities in climate change-attributed impacts of hurricane harvey
Smiley, Kevin T.; Noy, Ilan; Wehner, Michael; Frame, Dave; … - 2021
Climate change is already increasing the severity of extreme weather events such as with rainfall during hurricanes. But no research to date investigates if, and to what extent, there are social inequalities in current climate change-attributed flood impacts. Here, we use climate change...
Persistent link: https://www.econbiz.de/10012668885
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Overprotected politicians
Frey, Bruno S. (contributor) - 2007
Persistent link: https://www.econbiz.de/10003498679
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The social cost of carbon with intragenerational inequality under economic uncertainty
Ploeg, Frederick van der; Emmerling, Johannes; Groom, … - 2022
A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...
Persistent link: https://www.econbiz.de/10013206181
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Testing the dismal theorem
Anthoff, David; Tol, Richard S. J. - 2021
Weitzman's Dismal Theorem has that the expected net present value of a stock problem with a stochastic growth rate with unknown variance is unbounded. Cost-benefit analysis can therefore not be applied to greenhouse gas emission control. We use the Generalized Central Limit Theorem to show that...
Persistent link: https://www.econbiz.de/10012486424
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The Social Cost of Carbon and the Ramsey rule.
Withagen, Cees - 2018
The objective of this paper is to critically assess the use simple rules for the social cost of carbon (SCC) employing a rudimentary form of the Ramsey rule. Two interrelated caveats apply. First, if climate change poses a serious problem, it is hard to justify an exogenous constant growth rate...
Persistent link: https://www.econbiz.de/10011933744
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Relative prices and climate policy : how the scarcity of non-market goods drives policy evaluation
Drupp, Moritz A.; Hänsel, Martin C. - 2020
Climate change not only impacts production and market consumption, but also the relative scarcity of non-market goods, such as environmental amenities. We study fundamental drivers of the resulting relative price changes, their potential magnitude, and their implications for climate policy in...
Persistent link: https://www.econbiz.de/10012154637